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Vice President Shachner delivered the following report: Earlier tonight, the Finance Committee talked about ordinances that would allow us to take out notes and bonds. Notes are for projects that are not yet completed. Bonds typically are longer term and we use them to retire old notes or to consolidate outstanding bonds. We learned that we are in good financial shape. The way that we pay for our debt service is through service fees for water and sewer and through property tax debt-service levies. This means that our ability to borrow is directly tied to the health and value of Lakewood homes. Since our homes are in good shape, Lakewood is in good shape financially. During the meeting, there was a substitute for Ordinance 46-2023 to include some other items in that note. That substitution was approved at committee level. At the conclusion of the meeting, we recommended for approval all ordinance before us regarding bonds, which were Ordinances 43-2023 through Ordinance 47-2023 and Ordinance 46-2023 as substituted. We deferred Resolution 2023-74 which will be heard at a later time. Motion by Vice President Shachner, seconded by President Kepple, to receive and filethe oral report. All in favor. Motion passed. Report received and filed. *** 4. ORDINANCE 43-2023 - AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the issuance of notes in the amount of not to exceed $2,555,000 in anticipation of the issuance of bonds to pay costs of improving Bunts Road, Crest Lane, Giel Avenue, Onondaga Avenue, Wayne Avenue and Webb Road and other streets located within the city, between certain termini, by resurfacing and replacing concrete, together with all necessary appurtenances thereto; and st approving related matters; and declaring an emergency. (1 read 12/18/23 and referred to nd Finance; 2 reading 1/2/24)(pg. 4) Motion by President Kepple, seconded by Vice President Shachner, to adopt Ordinance 43-2023. All in favor. Motion passed. Ordinance 43-2023 adopted. *** 5. ORDINACE 44-2023 -AN ORDINANCE to take effect immediately provided it receives the affirmative vote of at least two thirds of the members of Council, or otherwise to take effect and be in force at the earliest period allowed by law, authorizing the issuance of notes in the amount of not to exceed $4,810,000 in anticipation of the issuance of bonds to pay costs of designing, engineering and constructing sewer improvements, together with all st necessary appurtenances thereto; and approving related matters. (1 read 12/18/23 and nd referred to Finance; 2reading1/2/24)(pg. 14) Motion by President Kepple, seconded by Vice President Shachner, to adopt Ordinance 44-2023. All in favor. Motion passed. Ordinance 44-2023 adopted. *** 2